Here’s How You Should Price Used Furniture (to Get the Most Cash!)

It is notoriously difficult to figure out how much used furniture is worth.

What you can get when you sell your used furniture is bound to be less than what you would have to pay for it, but you don’t want to feel that you’ve given it away and you certainly want to get all the money you can for it.

Fortunately, there are some guidelines that you can use when pricing your furniture.

These are only guidelines because there is such a variety in the range of furniture pieces and their condition.

Here are a few things to consider when trying to determine how to price your old furniture:

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1. Look at the quality

At the upper end, you have solid wood, well-fitting and intricate joints, and typically a lustrous finish.

Cheaper furniture tends to be made of veneered particleboard with rudimentary jointing, and may even have been self-assembly.

You need to be realistic when considering what condition your furniture is in.

Try to look at the piece from the buyer’s point of view, rather from the sentimental viewpoint that you no doubt have when you have lived with the piece for some time.

2. Consider the size

Size can be important to buyers,

Very large pieces such as TV entertainment centers can be hard to sell.

If your furniture is a more popular size, then you have a larger potential marketplace.

While custom furniture may have been expensive, unless it is something that your buyer is also looking for, the selling price will not reflect the cost to you.

3. How popular is it

Fads in furniture come and go, and the period that your furniture reflects will be important in deciding how saleable it is.

Buyers often look for a neutral contemporary style, unless of course, they are seeking antiques with classic looks.

4. What about the competition?

You are not selling your furniture in a vacuum, and one of the first things you should do is check how much similar pieces are advertised for.

You can look online at auctions, and at classified ads in local newspapers.

You may even want to check out local thrift stores and furniture stores.

If the piece is particularly low value, it will need to be in very good condition to attract a buyer.

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Of course, if you have antique or vintage furniture there will probably always be a market, though even then you still want to present the furniture in the best condition possible.

5. You have to depreciate

Just because your furniture does not have much wear, you can’t expect to charge a near new price for it.

Some furniture, such as for example leather living room suites, is expensive when new, but after 10 years it may still only get a quarter to a third of its original cost, no matter how well it has been looked after.

How the industry evaluates used furniture

Since most people look at the average prices in the market to determine whether or not what they are paying is a good price, you have to look at the industry and see what other similar items are selling for.

The basic guideline for the used furniture industry is to price it at 70% to 80% of the original selling price.

This should be the price it actually cost, not what the furniture store originally wanted – everyone knows that furniture is heavily marked up and that you seldom have to pay list price when buying new.

This assumes that your furniture is decent quality, and not simply pressed particleboard, which in any case tends to fall apart after a few years.

You have to look at your furniture with a critical eye to decide exactly how much discount you should apply.

Discussion

Mariasays

Wow, I am just getting started and really looking for a place to sell my work. Thank you for the amazing suggestions! I am just not sure about Etsy. I have been told that I should sell my work but just haven’t taken that step yet. I guess everyone has fear starting out. It seems so scary after reading so many different things on what you need to do. But I am trying to get organized. Thank you again!

Satrapsays

Hi Maria! It can be scary starting out, but Etsy can be a great place to sell your creations and make some extra cash. Good luck, and keep me updated on your progress!!

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